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Thu 6 Nov, 2008 05:37 pm
Mr. Jones work 40 hours per week at atrate of $20.50 per hour. When he received his check, he uses 8% to buy cd player, 20% for clothing, 15% on gift items, and 2.55 on food. How much money does he has left?
@neoshia,
what tax braket is he in?
does he pay state as well as federal tax?
city tax?
does he have a 401K?
Flexible spending account for health expenses and/or child care?
What kind of food can you buy for $2.55?
@neoshia,
He makes $20.50 X 40 hours = $820/week. He spent a total of 43% of his salary (20+15+8) on stuff plus an additional $2.55 on food. 43% of $820 is 820 X 0.43 or $352.60 plus the $2.55 for food is $355.15 total spent from his check. How much does he have left?
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